BJP takes a shot at economic utopia

NEW DELHI, February 3: In keeping with the tradition of all political parties over the years, the BJP today unfurled its all-gain-no-pain economic manifesto for the coming elections. In the event, it promises to take a shot at managing large contradictions which recent governments — Congress as well as the UF — have failed at. It plans to increase allocations for the agriculture sector, but hopes to do this by cutting all subsidies except those that go to the weaker sections.

The party then plans to prune the public sector while ensuring that the interests of the workers are taken care of. It also plans to continue subsidies for fertilisers, doesn’t plan any immediate action to cut subsidies for irrigation or power. The party has also chosen to stick to its swadeshi line on industrial policy by talking of formulating policy to restrict foreign investment in non-priority areas. It also talks of adopting a more calibrated approach to globalisation and giving Indian industry five to seven years to integratesubstantially with the global economy. At the same time it cautions that it will not indulge in any activity/policy which can be construed as "economic isolationism".

The BJP also states that it will work on a national agenda for the `Bhagidari’, or the small partnership/proprietorship sector, to enable it to get cheaper credit and other facilities. No specific steps have, however, been spelled out as to how this is to be achieved.

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The party’s agenda has plenty of cheer for the eight fast-track power projects which have got stuck in bureaucratic hurdles. It promises to attempt to ensure that each one of them is able to start construction this year. Coal mining is also to be opened up to the private sector.

It promises to delicense the sugar industry and de-control prices of molasses. Sixty per cent of plan allocation is also to be ear-marked for agriculture and rural development. Co-operatives are to be freed from political/bureaucratic interference through a new policy.